The Mama’s Village Podcast CT

Episode 14 Breaking the Silence on Money with Michell Hobart

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In this episode of The Mama's Village Podcast - CT, host Abby Hartley speaks with financial advisor Michelle Hobart about the importance of discussing money openly, especially in relationships and with children. They explore the concept of 'money silence' and its impact on personal and familial relationships, as well as practical financial strategies for moms. The conversation also touches on the significance of quality of life versus financial responsibility, and how to teach children about money management. Michelle shares her insights on navigating financial challenges and the importance of acknowledging one's financial story without shame.

 

  • Money silence is a significant issue affecting many relationships.
  • Discussing finances openly can prevent misunderstandings and conflicts.
  • The 50, 30, 20 budgeting rule is a helpful guideline for managing finances.
  • It's important to teach children about money management from a young age.
  • Sharing financial failures with kids can help them understand the realities of money.
  • Quality of life should be balanced with financial responsibilities.
  • Financial literacy is crucial for both parents and children.
  • Understanding one's money story can lead to better financial decisions.
  • Money should not define self-worth or happiness.
  • Open conversations about money can reduce shame and stigma. 
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    CHAPTERS
    00:00 Introduction and Guest Introduction
    02:50 Michelle's Background and Career Journey
    05:53 The Importance of Financial Planning
    08:54 Fairfield County Hidden Gems
    11:51 Diving into Financial Conversations
    14:53 Understanding Money Silence
    17:53 The Impact of Money on Relationships
    20:58 Navigating Financial Conversations in Relationships
    23:46 Family Dynamics and Money Discussions
    26:29 The Importance of Financial Literacy
    28:45 Strategies for Financial Security
    30:41 Understanding the 50/30/20 Rule
    32:35 Investing and Saving for the Future
    36:35 Quality of Life vs. Financial Responsibility
    39:42 Teaching Kids About Money
    42:21 The Value of Sharing Financial Failures
    46:24 Breaking the Stigma Around Financial Conversations
    ...more
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    The Mama’s Village Podcast CTBy hartleyabby